Thursday, October 10, 2024 - The Nigeria Labour Congress (NLC) has urged the federal government to reverse the recent increase in fuel prices after the Nigerian National Petroleum Corporation Limited (NNPCL) set new prices.
In a statement signed by its president, Joe Ajaero, the NLC said that the
federal government under President Bola Tinubu is mishandling fuel pricing.
The labour union stressed that previous fuel price hikes have not resulted in
any positive outcomes for Nigerians, instead, it has worsened the financial
strain on the population.
“We are dismayed by the latest increase in the pump price of petrol,” Ajaero
said. “It appears that the only thing this government is known for is raising
fuel prices without considering the capacity of Nigerians to cope or providing
any mitigating measures.”
Ajaero further criticized the role of the
NNPCL, stating, “Even following the logic of market forces, it is an aberration
that a private company like NNPCL is fixing prices and projecting itself as a
hegemonic monopoly. The government needs to return to the drawing board and
provide a comprehensive plan for inclusive economic growth and national
development, rather than relying on erratic policy decisions and palliative
measures.”
The NLC warned that the latest fuel price hike has drastically impacted
Nigerians, deepening poverty, reducing production capacity, and causing further
job losses. Ajaero urged the government to reverse the increase, as previous
hikes have only exacerbated poverty, without yielding any economic benefits.
He concluded by challenging the government to clearly outline its
long-term plans for the country, saying, “The government should be bold enough
to tell Nigerians in advance the destination it wants to take the country.”
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